U.S. Sens. John Fetterman and Dave McCormick teamed up on Monday to encourage Pennsylvania families to enroll their children into accounts they believe can help build long-term financial security.

“He’s a Republican, I’m a Democrat, but we’re here today because we want all of you one day to be all millionaires,” Fetterman said at the Alan Horwitz “Sixth Man” Center in Philadelphia. “We want you to have your financial security in life. And here we are working together to talk about these things: what’s known as the Trump accounts.”

Trump Accounts are new savings accounts for children created by the One Big Beautiful Bill Act, signed into law on July 4, 2025. One year after signing that legislation, the accounts will open for enrollment on Saturday.

“They’re a way to make sure everybody takes advantage into growing the economy, and so it’s a great step forward for our country,” McCormick said. “It’s not a partisan issue. In other words, there’s no politics. The idea is to create opportunity for every single person.”

All U.S. children under 18 with a valid Social Security Number are eligible to establish a Trump Account, according to its website, adding that parents or legal guardians can open and manage accounts on behalf of their children.

Families, friends and employers can contribute up to $5,000 per year per child.

Babies born from Jan. 1, 2025 to Dec. 31, 2028 will get $1,000 from the Treasury Department to start their accounts.

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